EVS reports record third quarter revenue and pr...
Publication on November 13, 2008, before market opening
Regulated information - Quarterly Management Report
* Record 3Q08 revenue of EUR 37.2 million, +52.9% vs. 3Q07 (+56.8%
at constant exchange rate), thanks to strong traction from big
sporting events (including EUR 6.9 million rentals)
* Europe up 83.5%, Asia & Pacific up 35.1%, America up 23.5% (35.4%
at constant exchange rate) compared to 3Q07
* EBIT margin of 66.1% for 3Q08 and 65.7% for 9M08
* Autumn order book of EUR 9.0 million, down 62.6% vs 2007, mainly
due to the usual post-olympic phenomenon combined with overall
industry slow-down
* Studio represents 40.6% of that order book to be invoiced in 2008
* As expected, 2008 to be a double-digit growth year
* Payment of a EUR 1.00 gross interim dividend per share, up 25%,
end November
* 2009 to be a transition year
Liège (Belgium), November 13, 2008, EVS Broadcast Equipment S.A.
(Euronext Brussels: EVS.BR, Bloomberg: EVS BB, Reuters: EVSB.BR)
(Pinksheets: EVBEF), the leader in Professional Digital Video
applications for Live, Near-Live and Studio TV Production, today
reported its results for the third quarter ("3Q08") and the first
nine months ("9M08") of 2008.
Key highlights
Pierre L'Hoest, CEO of EVS said: "2008 is the best year so far for
EVS. Not only our business reaches new heights but our products and
our service teams have demonstrated their strengths and flexibility,
especially around Beijing 2008, that has been the biggest TV
production ever. We are currently accelerating the development of new
solutions and products to improve the workflow of our customers. In
2009, 2010 and beyond, EVS shall continue to benefit from the
structural long term growth drivers like tapeless transition, higher
TV production efficiency requirements, high definition and more
diversified TV sports."
Commenting on the results and perspectives, Jacques Galloy, CFO
added: "In this third quarter, both sales and profit were at a record
level, positively impacted by the EUR 6.9 million rental agreements
relating to the Beijing Olympics. As a consequence and despite the
weaker order book, we confirm our double-digit growth year for 2008.
Next year is an odd year without any major sporting event and shall
be a transition year. Whether the economic downturn might affect our
business over time will depend on the depth and length of the
downturn. Typically, our sports driven business, which represents
most of our revenue has been somewhat resistant to economic downturns
but fluctuates according to specific sport event patterns while the
company is continuously gaining market shares in the TV Studio
production market."
(unaudited) IFRS - EUR millions, (unaudited)
except earnings per share
3Q08 3Q07 3Q08/3Q07 expressed in EUR 9M08 9M07 9M08/9M07
37.2 24.4 +52.9% Revenue 97.0 67.5 +43.7%
24.6 15.8 +55.9% Operating profit - EBIT 63.7 43.5 +46.4%
66.1% 64.9% +129ppt Operating margin - EBIT 65.7% 64.5% +122ppt
%
-0.7 -0.7 -7.6% Contribution from 47.2% -2.1 -1.7 +21.9%
XDC affiliate
16.4 9.9 +66.0% Net profit - Group share 43.3 28.0 +54.7%
Net profit from
17.2 10.7 +60.5% operations, excl. XDC - 46.2 30.6 +50.9%
Group share (1)
1.21 0.73 +66.0% Basic earnings per share 3.19 2.06 +54.8%
Basic earnings per share
1.26 0.79 +60.5% from operations, excl. 3.40 2.25 +50.9%
XDC (1)
(1) The net profit from operations, excl. XDC, is the net profit
(share of the group) excluding non operating items (net of tax) and
the XDC contribution. Refer to Annex 6.3: use of non-GAAP financial
measures.
Corporate Calendar:
Monday November 17, 2008 Ex-date of the interim
dividend coupon #7
Monday November 24, 2008 Pay date for the interim
dividend coupon #7
Friday November 28, 2008 EGM relating to the merger
by absorption of Dwesab by EVS
Wednesday December 24, 2008 Postponed EGM relating to the
merger by absorption of Dwesab by EVS
Thursday February 19, 2009 FY2008 revenue & earnings
Thursday May 14, 2009 1Q09 revenue & earnings
Tuesday May 19, 2009 Ordinary Shareholders
Meeting
For more information, please contact:
Jacques GALLOY, Director & CFO
Geoffroy d'OULTREMONT, Investor Relations & Corporate Communications
Manager
EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois
Saint-Jean, B-4102 Ougrée (Liège), Belgium
Tel: +32 4 361 70 14. - Fax: + 32 4 361 70 89 - E-mail:
corpcom@evs.tv; www.evs-global.com
Forward Looking Statements
This press release contains forward-looking statements with respect
to the business, financial condition, and results of operations of
EVS and its affiliates. These statements are based on the current
expectations or beliefs of EVS's management and are subject to a
number of risks and uncertainties that could cause actual results or
performance of the Company to differ materially from those
contemplated in such forward-looking statements. These risks and
uncertainties relate to changes in technology and market
requirements, the company's concentration on one industry, decline in
demand for the company's products and those of its affiliates,
inability to timely develop and introduce new technologies, products
and applications, and loss of market share and pressure on pricing
resulting from competition which could cause the actual results or
performance of the company to differ materially from those
contemplated in such forward-looking statements. EVS undertakes no
obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
About EVS Group
EVS Group designs, develops and markets professional digital
equipment for Television (EVS Broadcast) and Cinema (XDC). The Group
employs over 240 persons for broadcast equipment in 12 countries and
sells its products to professionals of the video and audio sectors in
more than 90 countries. EVS is a public company traded on Euronext
Brussels: EVS, ISIN: BE0003820371. For more information, refer to
www.evs-global.com
EVS Broadcast is the world leader for Live TV Production Digital Disk
Recorders and Related Software Applications, especially in the field
of sports. The company's dedicated hardware and software suite offer
a complete production platform: live slow motion (LSM), high speed
slow motion, replay only, clips generation, quick clips editing,
real-time SD/HD video files transfer, time delay, multi-camera
recording, metadata association, graphics storage and play-out,
digital transmission, multi-format ingest and play-back, audio record
& edit, webcasting, mobile phone clipping. Main software applications
like the "IP Director®" are running on the dedicated robust and
flexible hardware the "XT[2]® Platform". The world's leading
broadcasters, such as NBC, BSkyB, FOX, RTBF, RTL, NHK, CANAL+, ABC,
ESPN, TF1, CCTV, PBS, CBS, BBC, ZDF, Channel7, RAI, TVE, NEP,
MEDIAPRO, EUROMEDIA, BEXEL, ALFACAM and many others use EVS'
solutions.
EVS 47,2% affiliate XDC is pioneering Digital Cinema Logistics and
Play-out and operates between the movies distributors and exhibitors.
XDC has installed more than 280 digital screens throughout the world
in China, Germany, Sweden, Brazil, the United States, France,
Belgium, etc.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.